OVERNIGHT INDEX SWAP
An interest rate swap involving the overnight rate being exchanged for a fixed interest rate. An overnight index swap uses an overnight rate index, such as the Federal Funds Rate, as the underlying for its floating leg, while the fixed leg would be set at an assumed rate. Overnight index swaps are popular amongst financial institutions for the reason that the overnight index is considered to be a good indicator of the interbank credit markets, and less risky than other traditional interest rate spreads.
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Chaebol Structure
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Nationalization
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 12:00 | CBI retail sales volume balance | Apr | |
| 01:01 | BRC Shop Price Index | Apr | |
| 01:30 | Unemployment Rate | Mar | |
| 05:04 | BoJ MPC Interest Rate Announcement | Apr | |
| 05:04 | Monetary Policy Meeting Minutes | ||
| 05:04 | BOJ Outlook Report | ||
| 07:00 | BOJ Core CPI | Mar | |
| 08:30 | Bank of Japan Press Conference | ||
| 09:00 | Unemployment Rate | 1 quarter |
